Horseshoe Falls is a small waterfall located in the Catlins region of New Zealand's South Island, found along the same forest trail as the better-known Matai Falls.

Reached via a short walk from the car park on the Papatowai Highway — roughly 18 km south of Owaka — the falls sit upstream from Matai Falls and require a brief, steep climb to reach.

The total return walk through regenerating podocarp and broadleaf forest takes around 20–30 minutes and suits most fitness levels, though the track can become muddy after rain.

Smaller than Matai Falls, Horseshoe Falls is best visited when the river is running high. A wooden viewing platform provides the main vantage point, though photographic angles are somewhat limited.

The falls are easily combined with Matai Falls and an optional one-hour return walk along a historic railway formation nearby.